Private-sector employment grew by a solid 106,000 in March, according to the latest ADP National Employment Report, but the manufacturing industry didn’t join in the growth.
ADP said manufacturing lost 15,000 jobs last month, in contrast to the 128,000 jobs produced within the services sector. The “goods producing” sector, which includes the construction industry, shrank by 22,000 jobs.
ADP said small businesses (which the company classifies as representing payrolls of 1-49 employees) added 81,000 jobs in the month, and medium businesses (50-499 employees) expanded payrolls by 43,000 workers. Large businesses cut their payrolls by 18,000 last month.
“Over the last six months, small- and medium-size businesses accounted for most of the growth in private nonfarm employment,” said Joel Prakken, chairman of Macroeconomic Advisers, which partners with ADP in compiling the report.